Restructuring (Tables)

12 Months Ended

May 31, 2024

Restructuring and Related Activities [Abstract]

Summary of Charges Recorded in Connection with Restructuring by Reportable Segment

Following is a summary of the charges recorded in connection with MAP 2025 by reportable segment for the years ended May 31, 2024 and 2023, as well as the total expected costs related to projects identified to date:

	Year Ended		Year Ended			Cumulative Costs			Total Expected
(In thousands)	May 31, 2024		May 31, 2023			to Date			Costs
CPG Segment:
Severance and benefit costs	$	9,111	$	6,092		$	15,203		$	20,114
Facility closure and other related costs		608		-			608			16,942
Total Charges	$	9,719	$	6,092		$	15,811		$	37,056
PCG Segment:
Severance and benefit costs	$	2,711	$	1,148		$	3,859		$	4,777
Facility closure and other related costs		172		-			172			643
Other restructuring costs (1)		4,555		2,537			7,092			7,092
Total Charges	$	7,438	$	3,685		$	11,123		$	12,512
Consumer Segment:
Severance and benefit costs	$	9,266	$	507		$	9,773		$	17,087
Facility closure and other related costs		156		621			777			3,675
Total Charges	$	9,422	$	1,128		$	10,550		$	20,762
SPG Segment:
Severance and benefit costs	$	2,894	$	805		$	3,699		$	4,672
Facility closure and other related costs		535		-			535			6,557
Total Charges	$	3,429	$	805		$	4,234		$	11,229
Corporate/Other Segment:
Severance and benefit (credits)	$	-	$	(50	)	$	(50	)	$	(50	)
Total Charges	$	-	$	(50	)	$	(50	)	$	(50	)
Consolidated:
Severance and benefit costs	$	23,982	$	8,502		$	32,484		$	46,600
Facility closure and other related costs		1,471		621			2,092			27,817
Other restructuring costs		4,555		2,537			7,092			7,092
Total Charges	$	30,008	$	11,660		$	41,668		$	81,509

(1)Of the $4.6 million of other restructuring costs incurred during the year ended May 31, 2024, $3.3 million is associated with the impairment of an indefinite-lived tradename. The $2.5 million of other restructuring costs incurred during the year ended May 31, 2023, is associated with the impairment of an indefinite-lived tradename. See Note C, "Goodwill and Other Intangible Assets," of the Consolidated Financial Statements below for further description.

Summary of Activity in Restructuring Reserves

A summary of the activity in the restructuring reserves related to MAP 2025 is as follows:

(In thousands)	Severance and Benefits Costs			Facility Closure and Other Related Costs			Other Asset Write-Offs			Total
Balance at June 1, 2022	$	-		$	-		$	-		$	-
Additions charged to expense		8,502			621			2,537			11,660
Cash payments charged against reserve		(5,486	)		(121	)		-			(5,607	)
Non-cash charges and other adjustments		(299	)		(500	)		(2,537	)		(3,336	)
Balance at May 31, 2023	$	2,717		$	-		$	-		$	2,717
Additions charged to expense		23,982			1,471			4,555			30,008
Cash payments charged against reserve		(9,381	)		(1,423	)		-			(10,804	)
Non-cash charges and other adjustments		33			(30	)		(4,555	)		(4,552	)
Balance at May 31, 2024	$	17,351		$	18		$	-		$	17,369